Novo Nordisk Names Insider Maziar Mike Doustdar as New CEO Amid Growth Challenges

Novo Nordisk has appointed Maziar Mike Doustdar, previously executive vice president of International Operations, as its new president and CEO effective August 7, 20251345.

Doustdar succeeds Lars Fruergaard Jørgensen, who announced his departure in May 2025 following a period of share price decline and intensifying competition in obesity treatments, particularly from Eli Lilly13.

Under Doustdar’s leadership, International Operations at Novo Nordisk more than doubled sales over a decade to approximately DKK 112 billion in 20244.

The CEO transition is part of a broader executive reshuffle and occurs as Novo Nordisk lowers its 2025 sales and profit growth outlook, now expecting sales growth of 8%-14% (down from 13%-21%) and operating profit growth of 10%-16% (previously 16%-24%)1.

Board Chair Helge Lund stated confidence in Doustdar’s ability to lead Novo Nordisk through industry challenges and to unlock new growth, referencing his strong commercial and leadership track record4.

This move comes as Novo faces increased competition, notably from Lilly’s Zepbound obesity drug, and recent public disputes over GLP-1 medications13.

Sources:

1. https://www.statnews.com/2025/07/29/novo-nordisk-maziar-mike-doustdar-ceo-growth-outlook/

3. https://www.biospace.com/business/novo-nordisk-names-new-leader-cuts-2025-sales-guidance

4. https://www.novonordisk.com/content/nncorp/global/en/news-and-media/news-and-ir-materials/news-details.html?id=916408

5. https://insights.citeline.com/scrip/leadership/novo-selects-internal-ceo-to-recharge-growth-D6FLVDFVFBD23PEYAWYCUEJFEA/